The term Baby Boomer relates to the increased birth rate following World War II and has been defined as the generation born between 1946 and 1964.

As reported in the Advertiser, the local authority is taking measures to address the forecast population decline, which is expected to accelerate in the next 25 years.

A previous council report prepared for the council’s performance review and scrutiny committee revealed the National Register of Scotland (NRS) projected Argyll and Bute’s population could fall by almost 14 per cent between 2012 and 2037.

The projections – based on 2012 figures – showed the population profile will age, with a decrease in the number of children and adults of working age, and an increase of 73 per cent in the population of those aged 75 and over. An Economic Summit held on October also aimed at boosting economy of the area with the launch of the Argyll and Bute Sustainable Economic Forum (ABSEF), a business-led public/private partnership which will drive forward economic change and shape a strategic vision for the future.

As the last of the Baby Boomer generation turned 50 at the end of 2014, pensions and investments provider Aegon published figures which revealed more than 28 per cent of the Argyll and Bute population are born in this generation.

In Argyll and Bute there are 24,901 ‘Baby Boomers’, which is more than 28 per cent of the population, and those aged 65 can expect to live another 18.85 years.

David Macmillan, managing director at Aegon, told the Advertiser: “The Baby Boom was one of the most significant demographic trends of the last century and its effects on society are still being felt today. One of the main features of this group is their economic clout, with much of the nation’s wealth concentrated in the hands of a generation that by in large benefited from stable economic conditions, the rising property and equity values and defined benefit pension provision over the years.

“As well as being significantly better off than previous generations, the Baby Boomers are also much healthier.

“Amongst our Hotspots life expectancy at 65 is around 20 years so they can expect to enjoy a long retirement.

“However, this also poses challenges as savings will need to last a significant period of time and money must be carefully managed. This is particularly true for those approaching 55 who from next April will be able to start accessing their pension early and could spend a large percentage of their life in full or partial retirement.”